The Home Sale Agreement (Kaufvertrag) is a crucial legal document used in Austrian real estate transactions for transferring residential property ownership from seller to buyer. It must comply with strict Austrian legal requirements, including mandatory notarization under the Notary Act (NO) and registration in the land register (Grundbuch) according to the Land Register Act (GBG). This agreement is essential when conducting any residential property sale in Austria, whether for private homes, apartments, or residential development properties. The document incorporates all necessary elements required by Austrian law, including detailed property description, precise purchase price terms, transfer of ownership provisions, and tax implications under the Real Estate Transfer Tax Act (GrEStG). It serves as the foundational document for property transfer and must be drafted with careful attention to Austrian legal requirements to ensure validity and enforceability.
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Key Requirements PROMPT example:
Home Sale Agreement
"I need an Austrian Home Sale Agreement for selling my Vienna apartment to a private buyer, with completion planned for March 2025, including all standard warranties and an inventory of included furniture."
1. Parties: Identification of seller and purchaser with full legal names, addresses, and any relevant registration numbers
2. Background: Context of the sale and brief description of the property being sold
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed description of the property including land register details (Grundbuch), property address, cadastral number, and size
5. Purchase Price: Agreed purchase price, payment terms, and escrow arrangements
6. Payment Terms: Schedule of payments, including deposit and final payment details
7. Transfer of Ownership: Provisions regarding the transfer of title and registration in the land register
8. Handover Conditions: Terms and timing of physical property handover
9. Representations and Warranties: Seller's declarations regarding property condition, encumbrances, and legal status
10. Taxes and Costs: Allocation of transfer taxes, registration fees, and other transaction costs
11. Due Diligence Results: Confirmation of property inspection and acceptance of condition
12. Notarization: Acknowledgment of notarization requirement and process
13. Governing Law: Confirmation of Austrian law application and jurisdiction
14. Execution: Signature requirements and execution process
1. Mortgage Release: Required if there are existing mortgages to be discharged
2. Fixtures and Fittings: Detailed list of items included/excluded in the sale
3. Property Management: Required for properties in managed complexes or with shared facilities
4. Tenant Provisions: Required if the property is sold with existing tenants
5. Construction Completion: Required for properties under construction or newly built
6. Environmental Matters: Required if there are environmental issues or certifications
7. Broker Provisions: Required if real estate agents are involved
8. Easements and Rights: Required if there are specific easements or rights affecting the property
9. Renovation Requirements: Required if specific renovations are agreed as part of the sale
1. Property Plan: Official cadastral plan and property boundaries
2. Land Register Extract: Current extract from the Grundbuch
3. Property Photos: Current photographs of the property
4. Inventory List: Detailed list of included fixtures, fittings, and furniture
5. Energy Certificate: Mandatory energy performance certificate
6. Building Permits: Copies of relevant building permits and certificates
7. Property Inspection Report: Technical inspection results and condition assessment
8. Payment Schedule: Detailed breakdown of payment installments and timing
9. Utility Certificates: Certificates for electrical, gas, and other utility installations
Authors
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Real Estate
Legal Services
Financial Services
Property Development
Construction
Banking
Insurance
Property Management
Professional Services
Notary Services
Relevant Teams
Legal
Real Estate
Compliance
Property Management
Sales
Business Development
Risk Management
Finance
Operations
Customer Relations
Relevant Roles
Real Estate Lawyer
Property Manager
Real Estate Agent
Legal Counsel
Notary Public
Property Developer
Mortgage Advisor
Real Estate Transaction Manager
Compliance Officer
Real Estate Investment Manager
Property Acquisition Specialist
Legal Administrator
Contract Manager
Real Estate Portfolio Manager
Property Sales Director
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